The FHLBNY offers credit products designed to help facilitate your balance sheet strategies. Members can customize advances with a wide variety of maturities and structures, allowing you to choose funding that meets your objectives. FHLBNY advances can be customized by size, term, settlement date, amortization schedule, call/put options, symmetry and more.

If this is your first time borrowing with the FHLBNY, we created an interactive Borrower's Guide to assist members who want to initiate their first borrowing.

Click on an advance for more information or view a printable version of all the descriptions.

Principal-Deferred Advance (PDA)

A hybrid advance product that combines elements of the Fixed-Rate and Amortizing Advance. It begins as a Fixed-Rate Advance, allowing members to choose a specific amount of time they would like to defer the principal payment of the advance up to 5 years. When the lockout or principal-deferred period ends, the advance becomes an Amortizing Advance, where the member makes principal and interest payments on the loan up to another 30 years.

Advantages:

Valuable asset/liability management tool

Fully amortizing (back-end) with a choice of varying balloon terms

Mirrors characteristics of a typical construction deal with a permanent take-out

No embedded options in the advance

For more information on how the PDA can help meet your institution’s funding needs please visit our PDA Page.

Advance Rebate Program

Provides members with a cash rebate on a portion of the fees paid relating to the early extinguishment of eligible advances when new eligible advances are obtained within 30 calendar days. To receive the cash rebate, the prepaid advance(s) must have a remaining term of one year or longer, and new advance(s) must have a term of six months or longer.

Quick Links

For more information, contact a Calling Officer at (212) 441-6700 or email us at FHLBNY@fhlbny.com.

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